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"ANGLO American CEO, Mark Cutifani, is to put the group's $50m private jet - a Gulfstream G550 - up for sale after shareholders criticised the company for owning one in "these straitened times".
"Anglo has had some criticism from shareholders – not publicly, but behind the scenes – that we're one of the few companies with a private jet, which doesn't always look good in these straitened times," a market source told the Financial Times.
The Gulfstream G550 – which its manufacturers claim has "the most flexible and comprehensively equipped cabin in its class" – costs about $50m new, on top of its operating costs, said the Financial Times.
"The value doesn't change the financials of the company, but it sends a message that the culture needs to change," said the person familiar with the situation. The jet was bought in 2011."
LINK: http://www.miningmx.com/page/news/off_the_wires/1629213-Anglo-s-Cutifani-to-sell-50m-private-jet#.Ubb0JvnVCyV (http://www.miningmx.com/page/news/off_the_wires/1629213-Anglo-s-Cutifani-to-sell-50m-private-jet#.Ubb0JvnVCyV)